Promissory Note

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Promissory Note

Promissory Note

PARTIES

This Promissory Note (the "Note") is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between:

Borrower: {{borrower_name}}, with a physical address at {{borrower_address}}.

Lender: {{lender_name}}, with a physical address at {{lender_address}}.

PRINCIPAL SUM

For value received, the undersigned borrower, {{borrower_name}}, promises to pay to the order of the lender, {{lender_name}}, the principal sum of {{currency}} {{principal_amount}} ({{principal_amount_words}}) on or before {{repayment_due_date}}.

INTEREST

The principal sum shall bear interest at a rate of {{interest_rate}}% per annum, calculated from the date of this Note until the principal sum is paid in full. Interest shall be calculated on a {{interest_calculation_period}} basis.

REPAYMENT SCHEDULE

The Borrower shall repay the principal sum and accrued interest in accordance with the following schedule:

- A single lump sum payment of {{currency}} {{total_repayment_amount}} (principal plus interest) on {{repayment_date}}.

- {{number_of_installments}} equal monthly installments of {{currency}} {{installment_amount}} each, commencing on {{first_installment_date}} and continuing on the {{day_of_month}} day of each subsequent month until the full amount is repaid.

Payments shall be made to the Lender at {{lender_payment_address}} or such other address as the Lender may designate in writing.

DEFAULT

Upon default in the payment of any installment of principal or interest, the entire unpaid principal sum and accrued interest shall, at the option of the Lender, become immediately due and payable without presentment, demand, protest, or notice of any kind. A default shall also include, but not be limited to, the Borrower's insolvency, bankruptcy, or assignment for the benefit of creditors.

ACCELERATION

If the Borrower fails to make any payment due under this Note within {{grace_period_days}} days of its due date, the entire outstanding balance of the principal sum and accrued interest shall become immediately due and payable at the option of the Lender.

ATTORNEY'S FEES

In the event of default, the Borrower agrees to pay all reasonable costs of collection, including, but not limited to, attorney's fees and court costs, incurred by the Lender in enforcing this Note.

GOVERNING LAW

This Note shall be governed by and construed in accordance with the laws of {{country}}.

SEVERABILITY

If any provision of this Note is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

WAIVER OF PRESENTMENT

The Borrower and all endorsers, sureties, and guarantors of this Note hereby waive presentment, demand for payment, notice of dishonor, protest, and notice of protest.

SIGNATURES

IN WITNESS WHEREOF, the parties have executed this Promissory Note as of the date first written above.

BORROWER:

_____________________________

{{borrower_name}}

Date: {{borrower_signature_date}}

LENDER:

_____________________________

{{lender_name}}

Date: {{lender_signature_date}}